According to information received on Sunday, nearly 2.2 million farmers will receive around N12.3 billion in agricultural subsidies from the Federal Government in the coming weeks.
Officials from the Presidency stated that President Muhammadu Buhari had previously approved an N6.15 billion agricultural subsidy for the first 1.2 million farmers.
The Nigeria Inter-Bank Settlement System has certified the first batch of beneficiaries, according to Andrew Kwasari, Senior Special Assistant to the President on Agriculture.
He added that another group of over one million beneficiaries would receive over N6.15 billion in agriculture subsidies and that the 1.2 farmers would receive their alerts soon.
Kawasaki said, “The President has approved subsidies for 1.2 million farmers in Batch A and the NIBSS has validated their bank accounts and BVN (Bank Verification Numbers) as farmers.
We have another batch of over one million and NIPSS has also validated their details and it will be sent to Mr President for approval.
NIBSS validates every BVN tied to any account and can tell you the owner of such accounts in this country.”
When asked how much money would be provided to farmers in total, he said it would arrive in batches of roughly N6.15 billion.
He also stated that the NIBSS and the Office of the Accountant-General of the Federation have received the names of persons who will benefit from the subsidy scheme.
Kawasaki said, “The first batch is N6.15bn and we are preparing Batch B and it may be up to that amount also”.
“The file has moved from my office right now and it is with the Accountant-General of the Federation and NIBSS for payment”.
Kawasaki further insisted that the Federal Government had captured over six million farmers across the country, stressing that the data of these operators were in his office.
“We’ve captured over six million and very soon, we will be giving direct subsidies to these registered farmers,” he stated.
When farmers receive the subsidies, the presidential assistant advised them to use the cash wisely for agricultural reasons, noting that the government will monitor their activities.